LAKEWOOD CAPITAL MANAGEMENT, LP Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$1.5B

Holdings

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (62 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	CITHE CIGNA GROUP	405,307	$111.6M	7.38%
2	SSNCSS&C TECHNOLOGIES HLDGS INC	818,954	$71.6M	4.74%
3	AXTAAXALTA COATING SYS LTD	1,929,648	$62.3M	4.13%
4	ICLRICON PLC	332,500	$60.6M	4.01%
5	SHCSOTERA HEALTH CO	3,399,581	$60.0M	3.97%
6	BCBRUNSWICK CORP	778,467	$57.8M	3.83%
7	ARWARROW ELECTRS INC	523,360	$57.7M	3.82%
8	FAFFIRST AMERN FINL CORP	853,904	$52.5M	3.47%
9	TRVCCITIGROUP INC	413,839	$48.3M	3.20%
10	ALLYALLY FINL INC	1,036,809	$47.0M	3.11%
11	SWSMURFIT WESTROCK PLC	1,185,297	$45.8M	3.03%
12	GPIGROUP 1 AUTOMOTIVE INC	111,276	$43.8M	2.90%
13	ELVELEVANCE HEALTH INC FORMERLY	121,850	$42.7M	2.83%
14	AMRZAMRIZE LTD	699,200	$37.8M	2.50%
15	TFSLTFS FINL CORP	2,750,382	$36.8M	2.44%
16	METAMETA PLATFORMS INC	55,570	$36.7M	2.43%
17	UNPUNION PAC CORP	157,400	$36.4M	2.41%
18	IQVIQVIA HLDGS INC	157,000	$35.4M	2.34%
19	WEXWEX INC	227,968	$34.0M	2.25%
20	ASTSAST SPACEMOBILE INC	436,000	$31.7M	2.10%	Put
21	ALAIR LEASE CORP	485,878	$31.2M	2.07%
22	UI2KEMPER CORP	691,090	$28.0M	1.85%
23	CRLCHARLES RIV LABS INTL INC	140,240	$28.0M	1.85%
24	AWGASBURY AUTOMOTIVE GROUP INC	107,129	$24.9M	1.65%
25	NSYNICE LTD	205,600	$23.2M	1.54%	Call
26	HSICHENRY SCHEIN INC	305,000	$23.1M	1.53%
27	APOAPOLLO GLOBAL MGMT INC	151,197	$21.9M	1.45%
28	VTRSVIATRIS INC	1,681,300	$20.9M	1.39%
29	IBITISHARES BITCOIN TRUST ETF	398,510	$19.8M	1.31%
30	GPNGLOBAL PMTS INC	244,300	$18.9M	1.25%
31	UNFIUNITED NAT FOODS INC	550,000	$18.5M	1.23%
32	JDJD.COM INC	639,050	$18.3M	1.21%
33	CMCSACOMCAST CORP NEW	600,748	$18.0M	1.19%
34	KOFCOCA-COLA FEMSA SAB DE CV	186,800	$17.7M	1.17%
35	OKLOOKLO INC	240,000	$17.2M	1.14%	Put
36	GLNGGOLAR LNG LTD	435,000	$16.2M	1.07%
37	GOOGLALPHABET INC	49,780	$15.6M	1.03%
38	RELYREMITLY GLOBAL INC	1,121,200	$15.5M	1.02%
39	MCYMERCURY GENL CORP NEW	158,218	$14.9M	0.98%
40	BZHBEAZER HOMES USA INC	701,006	$14.2M	0.94%
41	SIGSIGNET JEWELERS LIMITED	122,300	$10.1M	0.67%
42	TBLATABOOLA.COM LTD	1,893,541	$8.7M	0.58%
43	GBTCGRAYSCALE BITCOIN TRUST ETF	123,500	$8.4M	0.56%
44	LAWCS DISCO INC	1,081,531	$8.4M	0.56%
45	FIXCOMFORT SYS USA INC	8,000	$7.5M	0.49%	Put
46	RGTIRIGETTI COMPUTING INC	289,700	$6.4M	0.42%	Put
47	HIPOHIPPO HLDGS INC	190,000	$5.7M	0.38%
48	DKNGDRAFTKINGS INC NEW	165,000	$5.7M	0.38%
49	KLARKLARNA GROUP PLC	170,000	$4.9M	0.33%
50	AEOAMERICAN EAGLE OUTFITTERS IN	175,900	$4.6M	0.31%
51	COFCAPITAL ONE FINL CORP	18,000	$4.4M	0.29%
52	EMEEMCOR GROUP INC	7,000	$4.3M	0.28%
53	KWEBKRANESHARES TRUST	110,000	$3.7M	0.25%
54	SDRLSEADRILL LTD	85,100	$2.9M	0.19%
55	BANDBANDWIDTH INC	180,721	$2.8M	0.18%
56	IONQIONQ INC	50,000	$2.2M	0.15%	Put
57	QSQUANTUMSCAPE CORP	120,000	$1.3M	0.08%	Put
58	BTCGRAYSCALE BITCOIN MINI TR ET	24,700	$956K	0.06%
59	IRENIREN LIMITED	20,000	$755K	0.05%	Put
60	QBTSD-WAVE QUANTUM INC	20,000	$523K	0.03%	Put
61	QUBTQUANTUM COMPUTING INC	15,000	$153K	0.01%	Put
62	TSETRINSEO PLC	281,279	$139K	0.01%